Prentice Wealth Management LLC Buys 89 Shares of Tesla, Inc. (NASDAQ:TSLA)

Prentice Wealth Management LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,301 shares of the electric vehicle producer’s stock after acquiring an additional 89 shares during the period. Prentice Wealth Management LLC’s holdings in Tesla were worth $929,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Matauro LLC bought a new position in shares of Tesla in the fourth quarter worth $546,000. Variant Private Wealth LLC bought a new position in Tesla in the 4th quarter valued at about $2,699,000. Bell Bank lifted its holdings in shares of Tesla by 1.9% during the 4th quarter. Bell Bank now owns 13,693 shares of the electric vehicle producer’s stock worth $5,530,000 after acquiring an additional 260 shares during the period. Indie Asset Partners LLC lifted its holdings in shares of Tesla by 7.7% during the 4th quarter. Indie Asset Partners LLC now owns 1,763 shares of the electric vehicle producer’s stock worth $712,000 after acquiring an additional 126 shares during the period. Finally, LifeSteps Financial Inc. boosted its position in shares of Tesla by 2.0% during the 4th quarter. LifeSteps Financial Inc. now owns 2,444 shares of the electric vehicle producer’s stock worth $987,000 after acquiring an additional 49 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 2.2 %

NASDAQ TSLA opened at $330.53 on Tuesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The business has a 50 day moving average price of $397.52 and a 200-day moving average price of $314.96. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 162.03, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSLA. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Jefferies Financial Group lifted their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Wedbush set a $328.50 target price on shares of Tesla in a report on Wednesday, February 12th. Canaccord Genuity Group lifted their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Barclays increased their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $319.57.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 523,386 shares of company stock worth $195,995,200. Insiders own 20.70% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.